Here are tips for managing your cash flow this month in a service business:
1. Do you know the invoices that are due? Will they be paid on time?
2. Do you know what projects are 75% or more completed, 50% or more completed?
3. Have you budgeted or had other budgeted for expenses this month and in to August?
4. What do you plan to spend for your marketing in July and August? When do you envision this will pay off and generate new leads?
5. Are your accounts solid or are any in danger of being lost? If so, are there new ones in the wings to replace them?
6. Are your customers fairly well satisfied? Have you thanked them for any referrals?
7. If you're running in to any potential problems meeting payroll, have you let others know?
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